A company sold equipment that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the equipment was $40,000. The company should recognize a:
A. $0 gain or loss.
B. $40,000 loss.
C. $20,000 gain.
D. $60,000 gain.
E. $20,000 loss.
Answer: A
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Answer the following statement true (T) or false (F)
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